Jamaica Amalgamated Cable Systems Limited says it is now owned by Columbus Communications Limited trading as Flow, which was recently granted an all-island digital licence to operate cable subscription services in Jamaica.

Up to press time the Financial Gleaner was unable to contact Flow officials for comment.

However, when the Financial Gleaner contacted JACS, the telephone was answered to the words: "Flow Cable Company Limited."

The Financial Gleaner was also unable to make immediate contact with personnel at the Broadcasting Commission to verify whether the sale had hurdled its regulatory requirements for such deals.

Flow and the regulator are now in discussion on a previous acquisition, Matrix, that had failed to apply for the necessary transfer of ownership to legitimise the deal.

Final paperwork

The Financial Gleaner was told by the supervisor at JACS/Flow, that the final paper work for the transaction took place Wednesday and that existing clients would be notified by written communication of the changes.

This was further confirmed by another manager at the company.

In the time being, the supervisor said, Flow would introduce its triple play on a phase-by-phase basis to JACS' customers and that the company would be presently using the existing equipment for now.

Flow's other cable company acquisitions to date are SAUCE and D&L in Kingston, and Northern Cable and Communication Network in Ocho Rios. JACS would be its fifth buy.

The Michael Lee Chin-owned Columbus Communications says it has already pumped $14 billion (US$200 million) of capital into its network in Jamaica and plans to spend $7 billion annually for the next three years.

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